A large majority (75 per cent) of anti-money laundering (AML) professionals believe the current geopolitical landscape presents new risks and challenges for preventing financial crime at their organisations, according to a joint survey by SWIFT

Seychelles will legislate this year for a central registry to record ownership of offshore companies, a move to meet new international standards that seek to counter money laundering, the finance minister said.
In Seychelles, as i

The Central Bank of the UAE and the Abu Dhabi Global Market (ADGM) have signed an agreement to cooperate on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) and related matters.
Both parties are committed t

A Saudi Arabian court has ordered a probe find out whether a man, accused of money laundering SR2 billion ($532 million), has other accounts and property in the UAE, India and China, a report said.
The Saudi man, in his 30s, shoul

Deutsche Bank AG is looking into possible money laundering by its clients in Russia involving about $6 billion of transactions over four years, Bloomberg reported yesterday, citing people familiar with the matter.
The report came

Dubai Police said it has partnered with Foreign Exchange and Remittance Group (FERG) in a first-of-its-kind social initiative to stamp out money remittance crimes.
As a first step an exclusive joint training session was held in th

SWIFT, a portfolio of financial crime compliance services, has extended its sanctions screening service to support all messages used in financial transactions, regardless of format or financial network.
Users can now screen all tr

Standard Chartered has notified thousands of UAE small and medium enterprise customers it is closing their accounts as it responds to pressure from US regulators to cut its risks following an anti-money laundering settlement.
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